What would you do in this situation?
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Never chase bad money with good money. Sell it for any price you can get. There is always a buyer for the right place. Thus you eliminate the car payment and insurance. Lick your wounds, talk with a tax accountant about possible tax deductions and consider it a lesson learned. Get rid of the car.
What would you do in this situation?When you get rid of the car you will still end up owing something on it, but not the repairs or insurance. At that point you should take the brother to court, yes I know he has other responsibilities but he still needs to step up and take some responsibility for this as well. You may not get anything other than a court order that says you are owed the money, you can use that to garnish his wages at least, and he has to pay his due. He will NEVER learn anything if you enable his irresponsibility, plus he will know that you aren't going to tolerate him using you like that.
What would you do in this situation?I'll spare everyone the speech about why you should never co-sign.
In your situation, I would sell the car (for whatever I can get, even a junkyard price would be acceptable).
Second, I would continue to make the payments, even after selling the car. There's no point making a bad situation worse by adding a repo to your credit report. Your hubby promised to pay the bank (when he co-signed the loan), so he should keep that promise.
Third, I wouldn't bother suing the brother. You just said he doesn't have any money. But I would also get the hubby's parents involved.
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